Graypoint LLC Boosts Position in NIKE, Inc. (NYSE:NKE)

Graypoint LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 25.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,346 shares of the footwear maker’s stock after purchasing an additional 1,101 shares during the period. Graypoint LLC’s holdings in NIKE were worth $405,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC grew its position in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after buying an additional 126 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of NIKE by 20.0% during the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC increased its position in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares in the last quarter. Chapin Davis Inc. lifted its holdings in shares of NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its position in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research reports. Barclays reduced their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Royal Bank of Canada dropped their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Evercore ISI decreased their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Finally, TD Cowen dropped their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Stock Performance

Shares of NKE opened at $71.31 on Friday. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43. The stock has a market cap of $105.48 billion, a P/E ratio of 20.43, a PEG ratio of 1.89 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $76.29 and a two-hundred day moving average of $78.36.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. As a group, research analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.